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What are the IoT challenges holding back adoption?
Firstly, connecting devices and operations takes time, lots of it, and it’s a very common hurdle to overcome. The quip about it taking two times longer? That’s based on research firm Gartner’s estimates that in 2018, 75 per cent of IoT projects will take up to twice as long as originally planned. Rainer Schroeder, chief sales officer at Nexiot, which delivers an end-to-end, sensor and software solution for freight logistics and supply chain management, says: “The pure rollout of IoT sensors takes two to five years. Especially in the beginning, when only a limited amount of assets are equipped with IoT sensors, there are very limited benefits. Projects with a two-to-five-year horizon aren’t sexy.” Next, the cost. IoT deployments can involve costs of between $10 and $50 a sensor, with mounting prices and Mr Schroeder estimates that most large-scale environments require budgets of $ 1million or above for IoT projects. Such budgets require executive approval and this involves an entirely different set of IoT challenges, notably the lack of expertise and confidence among business executives and board members when it comes to complex deployments of machine or IoT technologies.
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